www.iva.co.uk

Hi all
I am due my 1st review at the end of this month, both my husband and myself have an iva. My hubby has just been made redundant without notice and we have been left in an awful situation. we have contacted out ip who have recomended a 2 month payment hol for him, and they have said they will try for me aswell. I have a small amount saved up from the overtime I have done over the last year.(which should be paid into the iva as I have already used our 50%) I now need this money to get through the next couple of months untiil my hubby can find another job, where do I stand with this money, Do I have to give it all to the iva. iF that is the case my wages will only cover the outgoings leaving very little to actually live on. advice please

Hey Brainy, sorry to hear about your hubby's job, did he get any redundancy pay? How's his job prospects? I think your IP will want to help you through this so you really need to talk to them, but hang in there and a technical expert will advise you. Good luck. X

Your IP will not be taking additional money from you at a time when you are struggling financially. I am afraid that your husband is yet another statistic of a worsening recessioin, and both IPs and lenders have to cut people a little slack through this difficult period.

Hi, how long was your hubby employed by the company? Was it less than 2yrs?Just trying to understand y he didn't get redundancy.

thanks all for getting back so quick, the business my hubby worked for went into liquidation. he had only worked there for 13mths so no redundancy. we are fighting for his period of notice and hols pay but we dont know when or if we will get it

He will be able to claim for any monies he is due by his insolvent employer, on the Government's National Insurance Fund. Claims are limited to £330 per week, and will take between 6 and 8 weeks to process.